Bangalore is often referred as Silicon Valley of India. The city is studded with startups and has a huge pool of technical people. How and why did Bangalore became the startup hub of India? Why do startups from other parts of India move to Bangalore? What are the common characterstics between Silicon Valley and Bangalore?
To find the answers to these questions we spoke with Prof. Rishikesha Krishnan of the Indian Institute of Management (IIM) Bangalore. He is currently on leave from IIM Bangalore and is the director of IIM, Indore. Dr. Krishnan has written a book on India’s innovation culture called From Juggad To Systematic Innovation: The Challenge for India. You can listen to an extended audio interveiw with Prof. Krishnan on innovation and Indian economy.
Why is India not innovative on a sustained basis? How do you create a sustainable environment for innovation in India? What about logistics and infrastructure? When we think of innovation in India why do we think only of tech innovation and not other areas.? What are the skill gaps in India? How can Make in India help the Indian economy? To find out the answers for these and other related question on Indian economy, education and the growing importance of Bangalorea as the hub of tech innovation we spoke with Prof. Rishikesha Krishnan.
We also wanted to find out on what gets him excited about India? There is always that promise of something of better happening tomorrow, and hoping that one of these days that promise is realized he says.
LISTEN TO THE INTERVIEW WITH PROF. RISHIKESHA KRISHNAN
Dr. Ashish Gupta of Helion Venture Partners is one of the earliest investors in India. About 10 years ago he moved from Silicon Valley to Bangalore, India and started investing in startups. Helion is one of the leading investors in Indian starups. Dr. Gupta has seen the evolution of the startup landscape in India and in Bangalore in particular. Helion Venture has raised over $600 million so far and is in the process of closing another new round of funds.
We sat down to speak with Dr. Gupta to find out about the current investment trends in Banglaore, India. Bangalore is the startup capital of India and has more startups than other any other Indian city. Has Bangalore stepped out of its world back-office as James Crabtree of The Financial Times put in? What is the startup scene in Bangalore like? How are startups exiting in India? It seems like acquisition is one of the exit strategies for Indian startups. Why is that? For example, Gupta’s Helion Ventures decided to exit Flipkart, an Indian unicorn company and we wated to find out why.
Dr. Gupta now divides his time between Silicon Valley and Bangalore, India.
This interview aired on TV in San Francisco bay area.
Meet Anshuman Bapna of MyGola.com. Bapna and Prateek Sharma founded their startup in Bangalore in 2009. They raised a seed round and Series A and pivoted a couple of times. Here is how Bapna describes the pivots:
Earlier this month MyGola was acquired for an undisclosed amount by MakeMyTrip, a publicly traded travel company in India. Bapna made the announcement on their website.
I’m incredibly excited to announce that Mygola has agreed to be acquired by MakeMyTrip (NASDAQ:MMYT). It’s been a remarkable journey that we set out on 5 years ago to truly solve travel planning.
Here is a fun video that Bapna and his team created to announce their acquisition by MakeMyTrip.
We recorded this interview with Bapna in 2013, where he talks about entrepreneurship, MyGola and the pivots they made. In fact when we interviewed him MyGola was in the process of making a pivot. MyGola is the second startup Bapna co-founded. He founded his first startup while he was a student at IIT, Bombay.
Bapna studied at Stanford University and worked at Deloitte and Google in the US and then decided to head back to Bangalore to co-found MyGola.com.